UpGate

Tag: Neutral

  • XRP Faces Market Indecision Amidst Ecosystem Growth and Corporate Ambitions

    XRP Faces Market Indecision Amidst Ecosystem Growth and Corporate Ambitions

    XRP is currently trading around $1.40, with its 24-hour trading volume hovering between $1.4 and $1.8 billion, a level the source describes as indicating indecision rather than conviction. Technically, XRP remains above its 50-day moving average of $1.19 and its 200-day moving average of $1.28. However, the Relative Strength Index (RSI) reads 41, which is neutral, and the Moving Average Convergence Divergence (MACD) remains bearish. Declining volume on recent upticks suggests a potential ceiling forming rather than an imminent notable move, according to the source.

    Despite these technical observations, significant developments are occurring within the Ripple ecosystem. XRPL Korea has announced speakers for its upcoming XRP Seoul 2026 event, scheduled for October 3, 2026, at the Grand Hyatt Seoul. Among the reported speakers is Ashish Birla, CEO of Evernorth. Birla is recognized as an early member of the Ripple team, and his company, Evernorth, is pursuing a Nasdaq listing through a Special Purpose Acquisition Company (SPAC) merger. A stated goal of Evernorth is to build a $1 billion XRP reserve. Also scheduled to speak at the event is Hugo Philion, co-founder of Flare, who will discuss the smart-contract functionality of XRP and Bitcoin in decentralized finance (DeFi).

    The article outlines potential price scenarios for XRP. A clean break above the short-term resistance level of $1.43 could lead to a retest of $1.50, with consolidation above that level potentially extending toward $1.60–$1.68, and a more aggressive target of $1.80 mentioned in relation to a past bounce from $1.32. Conversely, continued price action between the support level of $1.39 and resistance at $1.43 suggests the market is waiting for confirmation. A failure to hold the $1.35 level could see XRP decline toward $1.28, with $1.22 as the next potential support level, according to the source.

    However, the article also points out the limitations for large-cap assets like XRP. While Evernorth’s Nasdaq path and its $1 billion reserve target are described as real long-term signals, the current market capitalization of XRP may already price in institutional adoption. The potential upside from the current price of $1.40 to a target of $1.80 represents approximately a 28% move, which the source characterizes as a capped return rather than a multiple. This presents a challenge for large-cap holders, where significant catalysts may lead to limited gains.

    In contrast to the established nature of XRP, the article introduces LiquidChain, a Layer 3 protocol aiming to reduce fragmentation in cross-chain DeFi by aggregating liquidity from Bitcoin, Ethereum, and Solana. LiquidChain’s core features include Single-Step Execution and Verifiable Settlement. The protocol is currently in its presale phase, with a price of $0.014953 and has raised approximately $960,000 so far. Investors are encouraged to research LiquidChain directly, as stated by the source.

    The interplay between ecosystem growth, corporate ambitions, and XRP’s market performance reveals a complex picture. While developments like Evernorth’s Nasdaq pursuit and the XRPL Korea event signal ongoing activity, XRP’s current technicals and market structure suggest a period of indecision. The article implies that while catalysts exist, the immediate upside potential for XRP may be constrained, prompting a look towards earlier-stage infrastructure plays for potentially different investment profiles. The article discusses Ripple’s presence in Korea and a related company’s Nasdaq listing aspirations.

    Why This Matters

    The materials describe a narrow update: XRPL Korea announced speakers for XRP Seoul 2026, including Evernorth CEO Ashish Birla, an early Ripple team member whose company is seeking a Nasdaq listing via SPAC merger with a goal of building a $1 billion XRP reserve. Whether event buzz actually moves XRP price.

    Broader Context

    Source materials place the factual news in this context: The article discusses Ripple’s presence in Korea and a related company’s Nasdaq listing aspirations.

  • Buterin’s Net Worth: 90% Against AI

    Buterin’s Net Worth: 90% Against AI

    Buterin Dismisses AI-Driven Bitcoin Crash Prediction

    Ethereum co-founder Vitalik Buterin has publicly rejected a forecast suggesting that artificial intelligence could lead to a Bitcoin price collapse of over 50% within two years. Buterin stated that his existing cryptocurrency holdings effectively place approximately 90% of his net worth on the opposing side of this bearish outlook.

    Bitcoin is currently trading just below $80,000, having reached a three-month high of $82,500 on September 3. Using $80,000 as a reference, a 50% drop would see Bitcoin fall to $40,000.

    The prediction originated from a Silicon Valley investor and host of the “Doom Debates” podcast, who expressed a 50% confidence that Bitcoin would lose more than half its value in the next two years. The investor’s concern is that advancements in AI could compromise the security or robustness guarantees that investors associate with the Bitcoin network. Specifically, the argument posits that increasingly sophisticated AI could enable novel attacks against the technology underpinning Bitcoin. This concern highlights a potential divergence between the perceived security of Bitcoin and the evolving capabilities of AI.

    For the broader cryptocurrency market, this debate underscores a distinction between fundamental technical concerns and market participants’ reactions to perceived threats. While discussions about AI-related risks do not inherently imply that Bitcoin’s cryptography has been breached, they have drawn attention to the network’s capacity to adapt to emerging security challenges.

    Buterin countered by stating his optimism regarding long-term cybersecurity and his expectation that Bitcoin can manage issues that do not necessitate widespread social consensus. He differentiated between network-level vulnerabilities, which could potentially be addressed through upgrades by developers, node operators, and mining pools, and a fundamental breakdown of Bitcoin’s core cryptography. Buterin characterized the probability of actual breaches in Bitcoin’s hash algorithms or proof-of-work mechanism as “tiny.”

    He further indicated that while he would be open to a formal bet, his current investment portfolio already reflects his conviction, with roughly 90% of his net worth aligned against the bearish AI prediction. Buterin noted that similar cryptographic considerations apply to Ethereum, emphasizing the interconnectedness of these assumptions across various crypto networks.

    In a separate context, Buterin referenced advancements in succinct proofs and fully homomorphic encryption expected by 2026. Reports also indicate that Ethereum’s recent roadmap overhaul has prioritized quantum safety.

    The investor’s view is not the sole instance of linking AI to potential downward pressure on Bitcoin. BitMEX co-founder Arthur Hayes has cautioned that AI-driven credit stress could trigger a market sell-off, potentially pushing Bitcoin below $60,000. Bitcoin critic Peter Schiff has argued that AI could compete with Bitcoin for essential resources such as investment capital, electricity, and data-center capacity.

    These various perspectives address different potential pressures: the investor’s concern focuses on network security expectations, Hayes’ warning pertains to broader market dynamics, and Schiff’s argument centers on resource competition. However, none of these analyses definitively predict an AI-driven event.

    Bitcoin experienced a stall below the $80,000 to $82,200 resistance zone over the weekend, trading between $79,750 and $80,100 on Saturday. Data from the same period indicated that wallets holding at least 100 BTC accumulated approximately 60,000 BTC in August, while smaller wallets divested a comparable amount.

    This accumulation data does not resolve the disagreement between the investor and Buterin. It represents a single market data point within a broader debate primarily focused on potential AI-related security risks and the Bitcoin ecosystem’s resilience.

    The core of the disagreement lies in the possibility that AI could undermine Bitcoin’s expected security guarantees, leading to a significant price decline. At a Bitcoin price near $80,000, a more than 50% drop would translate to a value around $40,000. The current reporting presents these as competing viewpoints on AI, security, and market pressures, without definitively establishing which will prevail over the two-year timeframe discussed.

  • XRP Futures Hit 6-Month Highs Amid Shifting Market Dynamics

    XRP Futures Hit 6-Month Highs Amid Shifting Market Dynamics

    XRP Futures Trading Surges to Six-Month High in August

    XRP futures trading experienced a significant surge in August, reaching its highest volume in six months, according to data from CryptoQuant. This marks the most robust activity seen since February.

    Exchange Activity and Market Dominance

    The uptick in trading volume was not confined to a single platform but was observed across major cryptocurrency exchanges, injecting renewed liquidity and interest into the XRP derivatives market. Binance emerged as the dominant player, recording approximately $37 billion in XRP futures volume during August. Bybit followed with a distant second at around $14.54 billion, and OKX secured third place with approximately $12.88 billion. Collectively, these three exchanges facilitated over $64.6 billion in XRP futures trades for the month.

    This substantial increase is particularly noteworthy given the previously subdued levels of XRP futures activity. The stronger price performance of the cryptocurrency asset is likely a key driver behind this resurgence. XRP saw a nearly 30% climb, beginning the month at $1.06 and reaching a peak of $1.50 on August 24 before settling at $1.35.

    Spot Trading Volume Also Climbs

    In parallel with futures trading, spot trading volume for XRP also hit its highest point since February. Binance led the market share, with around $7.28 billion in XRP trades. Upbit followed with $4.68 billion, and Bithumb Korea posted nearly $2.59 billion. Bybit, Gate.io, and KuCoin trailed with approximately $1.4 billion, $1.33 billion, and $1.23 billion, respectively. Bitget and Coinbase each recorded volumes just under the $1 billion mark.

    Technical Indicators Signal Caution

    Despite the strong trading activity, the technical outlook for XRP presents a less optimistic picture. Crypto analyst ChartNerd pointed out that XRP has remained below its 50-week WEMA for three consecutive weeks, while the weekly Stoch RSI indicates an overbought condition. The 20-week WEMA, currently at $1.29, now serves as a crucial support level. A sustained break below the 50-week WEMA could signal a more significant correction.

    XRP ETF Inflows Slow Despite Winning Streak

    On the institutional front, XRP Exchange-Traded Funds (ETFs) continued their positive trend for another week, though the pace of inflows has noticeably decelerated. The funds attracted nearly $19 million during the latest period, extending their winning streak to eight consecutive weeks.

    This figure represents a substantial decrease from the previous week, when inflows exceeded $110 million, marking the strongest weekly performance of 2026. After $5.64 million entered the funds on August 31, inflows rose to $14.38 million on September 1. However, momentum shifted on Wednesday, with investors withdrawing $7.2 million from the products, marking the first day of net outflows since August 5. Thursday saw a partial recovery with an additional $6.14 million flowing into the funds, but Friday recorded no significant movement.

  • XRP Faces Crucial $1.43 Resistance; Mid-September Key for Ripple

    XRP Faces Crucial $1.43 Resistance; Mid-September Key for Ripple

    XRP Faces Critical Resistance at $1.43 as Mid-September Looms

    XRP remains stalled below a significant resistance level that has capped its recovery attempts for over a week. The $1.43 mark has repeatedly seen sellers emerge since late August, and the next nine days could prove pivotal in determining if this barrier will finally be breached.

    On September 1, Ripple released 1 billion XRP from escrow across three transactions: 500 million, 400 million, and 100 million tokens. While a routine event, this influx of supply entered a market already grappling with resistance.

    Adding to the market’s anticipation, the XRPL 3.3.0 upgrade window is slated to activate as early as September 11. Furthermore, the Senate has scheduled a vote on the CLARITY Act for September 15, representing the most significant regulatory catalyst for XRP this month.

    Traders are observing whether XRP has already begun to price in the potential approval of the CLARITY Act, a development that could fuel a larger rally.

    Volatility and Consolidation Define XRP’s Current Stance

    Volatility, rather than a clear directional trend, has characterized XRP’s recent performance. Data indicated a 40% surge in XRP over the preceding week, a sharp fluctuation that sets the stage for a potentially decisive two-week period for Ripple’s digital asset.

    Currently trading at $1.41, XRP is consolidating within a narrow range. It holds above the $1.40 support level but has struggled to translate momentum into a decisive breakout. Volume data around the current resistance zone suggests buyer interest, though not yet aggressive enough to force a significant upward move.

    Immediate support is identified at $1.40–$1.41. A failure to maintain this level could see XRP retreat to a deeper support zone near $1.33–$1.35. The bullish scenario hinges on a decisive break above $1.43, which could pave the way for targets at $1.47–$1.50, with further extensions to $1.55, $1.60, and potentially $1.68 if the CLARITY Act receives favorable Senate approval.

    The CLARITY Act Vote: A Key Wildcard

    The September 15 Senate vote on the CLARITY Act stands as a significant wildcard. A positive outcome could serve as the catalyst needed to overcome the persistent $1.43 resistance. The baseline scenario anticipates continued trading within the $1.35 to $1.43 range as the market awaits regulatory clarity. However, a sustained drop below $1.40 could invalidate the current setup and send the price back towards the $1.30–$1.32 region.

    XRP’s current market structure favors patience over aggressive conviction. Holders are essentially betting on a favorable outcome from the Senate vote and the absorption of escrowed supply within the next two weeks. Even a clean breakout to $1.68 would represent approximately 20% upside from current levels, a modest gain for a token with a substantial circulating supply.

    Emerging Infrastructure Plays Offer Alternative Opportunities

    While XRP’s potential upside may be limited for traders seeking asymmetric returns, earlier-stage infrastructure projects are presenting more compelling opportunities.

    LiquidChain ($LIQUID) is developing a Layer 3 execution environment designed to unify liquidity from Bitcoin, Ethereum, and Solana. This platform aims to allow developers to deploy applications once and access all three ecosystems, mitigating liquidity fragmentation across different blockchains.

    The LiquidChain presale is currently priced at $0.014953, having raised approximately $960,000. Key features include Single-Step Execution, Verifiable Settlement, and a Deploy-Once Architecture, all intended to reduce cross-chain friction. Investors are encouraged to research LiquidChain before its next pricing tier is implemented.

  • HAJIMIUSDT Perpetual Contract Launches in Innovation Zone with 10x Leverage

    HAJIMIUSDT Perpetual Contract Launches in Innovation Zone with 10x Leverage

    Bybit Lists HAJIMIUSDT Perpetual Contract in Innovation Zone

    Cryptocurrency exchange Bybit has announced the listing of the HAJIMIUSDT Perpetual Contract within its Innovation Zone. Trading for the new contract is now live, offering users leverage of up to 10x.

    The HAJIMIUSDT contract features the underlying asset 哈基米-HAJIMI (HAJIMI) and settles in USDT. The tick size is set at 0.00001, with a maximum leverage of 10. The capped funding rate is 2.5%, and funding fees are settled every four hours. Trading is available 24/7.

    The official X account for HAJIMI is listed as <a href="https://x.com/hajimiCTOBNB”>https://x.com/hajimiCTOBNB. The official website is not available.

    Bybit has noted that contracts listed in the Innovation Zone incur higher trading fees compared to other available contracts. Further details regarding the Innovation Zone can be found on Bybit’s help center.

  • Binance Futures Ends Last Price Protection for TACUSDT Perpetual Contract

    Binance Futures Ends Last Price Protection for TACUSDT Perpetual Contract

    Binance Futures to Phase Out Last Price Protected Mechanism for TACUSDT Perpetual Contract

    Binance Futures announced that it will discontinue the Last Price Protected (LPP) mechanism for its USDⓈ-Margined TACUSDT Perpetual Contract. The transition to a standard Mark Price calculation is scheduled to begin on September 7, 2026, at 06:00 (UTC).

    Gradual Transition and Mark Price Calculation

    The transition period is expected to last up to three hours, with the exact duration dependent on price volatility and the stability of the index price. To mitigate sudden price fluctuations and ensure stability during this phase, Binance Futures will implement a gradual mark price smoothing process. Trading operations will remain unaffected throughout the transition, and existing open orders and positions will not be canceled.

    Upon the conclusion of the LPP period, the Mark Price will be determined using the following formula:

    Mark Price = Median (Price 1, Price 2, Contract Price)

    Users can find the specific formulas for Price 1 and Price 2 within the Mark Price and Price Index documentation for USDⓈ-Margined Futures.

    Funding Rate Adjustments

    Following the end of the LPP period, the funding rate will adhere to the standard rules for perpetual futures contracts. The capped funding rate will be adjusted from its current range of +0.005% / -0.005% to +2.00% / -2.00% at 06:00 (UTC) on September 7, 2026.

    The funding rate adjustments will occur in stages:

    • 2026-09-07 04:00 (UTC): Maximum Funding Rate at +0.005% / -0.005%
    • 2026-09-07 08:00 (UTC): Maximum Funding Rate adjusted to +2.000% / -2.000%
    • 2026-09-07 12:00 (UTC): Maximum Funding Rate remains at +2.000% / -2.000%
    • 2026-09-07 16:00 (UTC): Maximum Funding Rate remains at +2.000% / -2.000%

    The funding interval will be shortened from every four hours to every hour once the previous funding rate settlement reaches +2.00% / -2.00%.

    Further details regarding trading rules, funding rate history, mark price and price index, and Binance Futures contract specifications are available for reference.

    This announcement is issued as a Notice under Binance Exchange Rule 17. Binance reserves the right to modify the constituents and weightage of the Price Index and may adjust contract specifications, including funding fees, tick size, maximum leverage, and margin requirements, based on market risk conditions. Users are advised to consult the Trading Rules for the most up-to-date information. In the event of any discrepancies, the original English version of this notice should be considered authoritative.

  • IMF: No Public Funds Fuel El Salvador’s Bitcoin

    IMF: No Public Funds Fuel El Salvador’s Bitcoin

    IMF Confirms No Public Funds Used for El Salvador’s Latest Bitcoin Acquisitions

    El Salvador has significantly scaled back public involvement in its Chivo e-wallet as part of broader adjustments to the government’s engagement with Bitcoin, according to the International Monetary Fund (IMF).

    The IMF also indicated that efforts are underway to enhance transparency concerning the nation’s Bitcoin holdings across its various digital wallets.

    Majority ownership and operational control of Chivo have been transferred to a private entity. The government, however, has retained a minority stake and the responsibility for safeguarding customer assets. Regarding Bitcoin accumulation, El Salvador has provided documentation demonstrating that all Bitcoin acquired since the initial review of its IMF program originated from private donations, with no public funds utilized for these purchases.

    IMF staff and Salvadoran authorities have reached a staff-level agreement that encompasses measures to bolster governance and risk management for crypto assets held by the public sector. This agreement also includes plans to update the country’s legal, regulatory, and supervisory framework for digital assets.

    The IMF stated that no further Bitcoin accumulation beyond the documented donations is anticipated. These developments coincide with El Salvador’s ongoing implementation of reforms under its Extended Fund Facility arrangement with the international financial institution.

    Looking at the broader economic picture, Mr. Torres, the IMF Mission Chief for El Salvador, noted that the country’s economy expanded more than initially projected in 2025, with real GDP growth expected to reach 4.5% this year. This positive outlook is attributed to robust investment and consumer spending, alongside significant contributions from remittances, tourism, and capital inflows. The IMF also highlighted improvements in security and increased investor confidence as key factors supporting economic growth. The organization further commented that the government’s economic policies have been instrumental in strengthening fiscal and external buffers.

    El Salvador made history as the first nation to adopt Bitcoin as legal tender, though its usage and accumulation have consistently faced opposition from the IMF. As part of negotiations for its $1.4 billion IMF program, the country committed to limiting public sector involvement in Bitcoin, making private sector acceptance voluntary, and scaling back certain aspects of its cryptocurrency framework.

    The National Bitcoin Office’s reserve tracker currently indicates holdings of approximately 7,764 BTC. At the current price of $81,150 per Bitcoin, these holdings are valued at roughly $630 million.

  • Crypto Holders Leaned on Digital Asset Loans in 2026 Amidst Market Downturn

    Crypto Holders Leaned on Digital Asset Loans in 2026 Amidst Market Downturn

    In 2026, cryptocurrency holders increasingly turned to loans backed by digital assets as market conditions weakened, prompting shifts in borrowing behavior and collateral preferences, according to research from CryptoQuant. This trend allowed users to access liquidity without immediately selling their holdings.

    The data reveals a significant uptick in loan activity. The average number of loans per retail user surged by 74%, from 30.8 in 2025 to 53.5 in 2026. High-net-worth users also saw an increase, with the average number of loans rising 18% from 16.5 to 19.4 over the same period. Repeat borrowing became more common, with the percentage of users taking multiple loans climbing from 61.9% to 65.1%. Retail borrowers also adjusted their cadence, spacing out loans by an average of 21 days in 2026, up from 11 days in 2025.

    Collateral composition saw notable changes. For high-net-worth individuals, Bitcoin’s share as pledged collateral dropped substantially from 57.8% to 30.5%. Concurrently, Zcash gained prominence, accounting for 24.2% of pledged assets among this group. This rise is partly attributed to Zcash’s significant price rally, which saw its value increase from around $50 in late 2025 to approximately $800 in 2026.

    Retail users also diversified their collateral. While XRP remained a popular choice, its share decreased from 41.7% to 35.2%. Other assets such as TRON, Stellar, BNB, Kaspa, and Velo also saw increased use as collateral.

    In terms of trading volume, Tether and Bitcoin maintained their top positions, with USD Coin moving into third place. Flare, Ether, and Ondo also entered the top 10, while Solana, Stellar, and Shiba Inu fell out.

    These evolving borrowing and collateral strategies indicate that crypto holders were adapting to the challenging market environment of 2026, seeking financial flexibility through digital asset-backed lending.

    Why This Matters

    The materials describe a narrow update: In 2026, crypto holders, both retail and high-net-worth, increased their reliance on loans collateralized by digital assets as market conditions weakened. The exact reasons for the shift in collateral preferences beyond Zcash’s price rally are not fully detailed.

    Broader Context

    Source materials place the factual news in this context: Crypto-backed loans allow holders to access cash without immediately selling their digital assets.

  • XRP Spot Trading Volume Reaches Six-Month High in August Amidst Mixed ETF Signals

    XRP Spot Trading Volume Reaches Six-Month High in August Amidst Mixed ETF Signals

    XRP’s spot trading volume surged to a six-month high in August, coinciding with a price rebound and increased network activity, according to reported data. However, recent net outflows from U.S. spot XRP Exchange Traded Funds (ETFs) suggest a potential cooling of institutional demand, presenting a mixed picture for the cryptocurrency.

    August Trading Surge
    Binance recorded $7.28 billion in XRP spot trading volume during August, the highest monthly figure since February. Upbit and Bithumb also reported substantial activity, with approximately $4.68 billion and $2.59 billion in XRP spot trading volume, respectively. This elevated trading activity occurred as XRP’s price recovered from lows in the $1.30s back towards the $1.40 to $1.45 area.

    Network Activity Increases
    Beyond trading volume, network metrics indicated heightened engagement. Exchange outflows reportedly reached a six-month high, and active addresses on the XRP Ledger (XRPL) reportedly jumped by 659%. These combined metrics suggest increased participation and demand for XRP.

    ETF Demand Cools
    Despite the robust spot trading and network activity, institutional investor signals present a more nuanced view. After an 11-session streak of inflows totaling approximately $170 million, U.S. spot XRP ETFs experienced net outflows of $7.2 million on a recent Wednesday. This cooling of institutional demand contrasts with the heightened trading volume observed on exchanges.

    Interpreting the Signals
    Analysts suggest that while the increased spot trading volume and network activity may indicate renewed interest, these metrics alone do not suggest accumulation. Traders are advised to wait for price confirmation before treating the activity spike as a definitive signal. XRP is currently facing resistance between $1.45 and $1.50. A decisive breakout above this level with sustained volume is considered important for strengthening the case for further price increases.

    Conversely, the $1.30 to $1.32 zone is identified as key support. A loss of this level could invalidate the current support structure and expose XRP to lower prices, potentially in the low $1.20s. The upcoming price action is expected to test whether underlying demand for XRP remains strong, particularly in light of the recent cooling of ETF inflows.

    The current situation presents a complex outlook for XRP, characterized by strong on-chain and trading activity but tempered by mixed signals from institutional investment vehicles. The ability of XRP to sustain its price above key resistance levels, alongside continued network activity, will be crucial in determining its near-term trajectory.

    Why This Matters

    The materials describe a narrow update: XRP’s spot trading volume on major exchanges, particularly Binance, reached its highest point in six months during August. Whether the increased spot trading volume and network activity suggest accumulation for XRP.

    Broader Context

    Source materials place the factual news in this context: The article discusses XRP price predictions and market activity.

  • XRP ETFs Continue Inflows for Eighth Week, But Signs of Softening Demand Emerge

    XRP ETFs Continue Inflows for Eighth Week, But Signs of Softening Demand Emerge

    Spot XRP Exchange-Traded Funds (ETFs) have achieved their eighth consecutive week of net inflows, attracting approximately $19 million in the last full week of August. Despite this sustained positive trend, recent data suggests potential signs of waning demand, including a notable absence of inflows on a recent Friday.

    Sustained Inflows Amidst Emerging Concerns
    The cumulative total net inflows for XRP ETFs have reached an all-time high of $1.68 billion. However, the inflows for the last full week of August, while positive, were lower than the previous week’s figures. Further signs of a slowdown appeared on Wednesday of the previous business week, which saw outflows totaling $7.20 million. This marked the first ‘red day’ for Ripple ETFs since August 5, breaking a near one-month streak of net inflows. While Thursday saw a return of inflows amounting to $6.14 million, Friday recorded zero inflows, according to data from SoSoValue.

    This pattern of reduced inflows and a no-inflow day has reignited discussions about the underlying demand for XRP ETFs, a concern that had been less prominent during previous weeks of consistent positive flows. Before a market-wide revival experienced after August 19, August saw seven ‘no-reportable flow’ days out of 11 trading days for spot XRP ETFs.

    XRP Price Action and Analyst Outlook
    In parallel with the ETF performance, the price of XRP has experienced some volatility. The asset dipped below the key support level of $1.40 last weekend and further declined to $1.33 earlier this week. However, XRP showed resilience, recovering to $1.45 on Friday and trading at $1.41 as of press time. This price action indicates that XRP remains above its crucial $1.40 support level.

    Despite the recent fluctuations and concerns about demand, some analysts maintain a bullish outlook on XRP, suggesting that its bull phase may have commenced. Analysts such as Ali Martinez and EGRAG CRYPTO have outlined ambitious price targets for XRP, projecting potential figures of up to $60 by the culmination of the current bull market. However, these projections are subject to significant uncertainty and should be viewed as speculative.

    Conclusion
    The current situation presents a mixed picture for XRP. The sustained inflow trend into its ETFs is a positive indicator, contributing to a substantial cumulative net inflow. Nevertheless, the recent dip in daily inflows and the occurrence of outflows and zero-flow days warrant attention as potential indicators of softening investor interest. The ability of XRP’s price to hold above the $1.40 support level will be a key factor to monitor in the coming period, alongside future ETF flow data.

    Why This Matters

    The materials describe a narrow update: Spot XRP ETFs experienced their eighth consecutive week of net inflows, totaling approximately $19 million. The actual demand for XRP ETFs.

    Broader Context

    Source materials place the factual news in this context: The article is from CryptoPotato.